McCurdy Group - Insurance and Financial Consultants

Wednesday, May 21, 2014

Long Term Care Insurance

The use of long-term and home health care are on the rise because of medical advances and people living longer. If you think that Medicare will provide coverage for nursing home or at-home care, you could be shocked to know limited that coverage is. Medicare will pay for a short nursing home stay if you’re hospitalized for at least three days prior to your need for skilled care. Medicare will pay for the first 20 days, but you will be responsible for $148 a day for days 21 through 100. After that, Medicare coverage runs out. Medicare also provides limited coverage for home–health services: only when your doctor states that it’s medically necessary. Medicare Supplement Plans may provide more coverage but it is not extensive.  Long-term care costs can cripple a family if they don't plan ahead.. To prepare for long-term care issues, speak to your Financial Planner for options that are available to protect your future.

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